Saving is a targeted plan to save money for one specific wallet. Creating a saving plan is a good way to secure money for future needs, or for new stuff.
Money Lover provides user a tool to create and also track saving plan in very easy and convenient way. Open the left menu and then navigate to Savings tab. Click to plus button (+) to add a new plan.
The form will require some basic infomations such as the name for saving plan, the goal, and an optional target ending date.
- Name: such as new Macbook, New car or Trip to China.
- Goal: The estimated amount of money you need to achieve that goal
- Starting amount: How much you already have
- Set the deadline for this plan. You can leave this blank, but if you have an ending date, the app will generate notification to remind you of your plan.
- Select the wallet: When you are manage more than two wallets in application.
- Tap Save to finish and save the plan.
Plus, you can also change the default icon of saving plan to your liking.
Now you can start to track your saving plan with Money Lover. For example, if you saved 10 dollars, tap Deposit to put in such amount. Please note that when you deposit, the money will be set aside for the future and displayed as Outflow from your wallet. You can also Withdraw from the Saving incase you need some urgent money. The amount of saved money will decrease and a transaction will be added as Inflow.
Tips: Research suggests that a saving that starts with a small amount which is gradually increased over time is more effective than beginning with an unrealistic goal.